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Simple English definitions for legal terms

alter-ego rule

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A quick definition of alter-ego rule:

The alter-ego rule is a legal principle that applies to corporations. It means that in certain situations, the shareholders of a corporation will be treated as the true owners of the corporation's property or assets. This is done to prevent fraud or to ensure fairness in legal proceedings. Essentially, the alter-ego rule allows for the piercing of the corporate veil, which means that the legal separation between the corporation and its shareholders is disregarded in certain circumstances.

A more thorough explanation:

The alter-ego rule is a legal principle that applies to corporations. It states that shareholders will be considered the true owners of a corporation's property or assets, or the real parties involved, if it is necessary to prevent fraud or ensure justice.

For example, if a corporation is created solely for the purpose of shielding its owners from personal liability, and the corporation is used to commit fraud or other illegal activities, the alter-ego rule may be applied. In this case, the shareholders would be held responsible for the corporation's actions and could be sued or held liable for damages.

Another example would be if a corporation is used to hide assets or income from creditors or legal judgments. In this case, the alter-ego rule could be applied to pierce the corporate veil and hold the shareholders personally responsible for the debts or obligations of the corporation.

The alter-ego rule is an important legal principle that helps ensure that corporations are not used to shield individuals from liability or to commit fraud or other illegal activities.

altercation | altering or amending a judgment

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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